Gladstone Commercial Corporation Announces: the Partial Exercise of Over-Allotment Option, Trading Begins on NASDAQ and Monthly Cash Distributions on its Series C Cumulative Term Preferred Stock

MCLEAN, Va., Feb. 13, 2012 /PRNewswire/ -- Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") announced that, on February 10, 2012, in connection with its 7.125% Series C Cumulative Term Preferred Stock (the "Series C Preferred Stock") offering completed on February 1, 2012, the underwriters of the offering exercised a portion of the over-allotment option to purchase an additional 140,000 shares of Series C Preferred Stock from the Company.  The Company received approximately $3.4 million in additional net proceeds from the sale of these shares after deducting the underwriting discount. In addition, the Series C Preferred Stock began trading today on the NASDAQ Global Select Market under the symbol GOODN and the Company's Board of Directors declared a monthly cash distribution of $0.1484375 per share for the months of February and March 2012. 

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Summary Table for Series C Preferred Stock for the quarter ending March 31, 2012:

Jefferies & Company, Inc. served as the sole book-running manager for the offering, and J.J.B. Hilliard, W.L. Lyons, LLC, Wunderlich Securities, Inc., and Dominick and Dominick LLC served as co-managers.

The Company intends to use the net proceeds from this offering to repay any outstanding indebtedness under its line of credit and for acquisitions of real estate.

To obtain a copy of the offering's prospectus dated September 27, 2010 and prospectus supplement dated January 25, 2012, please contact: Jefferies & Company, Inc., 520 Madison Avenue, 8th Floor, New York, New York, 10022 (Attention: Investment Grade Debt Capital Markets) or call (201) 761-7610.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Gladstone Commercial Corporation is a publicly-traded real estate investment trust ("REIT") that focuses on investing in and owning triple-net leased industrial, commercial, medical and retail real estate properties.  The Company currently owns 73 properties. 

SOURCE Gladstone Commercial Corporation